My solicitor has informed me that restrictive coveneant insurance is necessary on my purchase. What is the level of cover for Petersham conveyancing?
The right level of restrictive coveneant indemnity insurance depends on who your lender is. It would differ for example between Lloyds TSB Bank and The Royal Bank of Scotland. Conveyancing practitioners as opposed to borrowers take out such policies.
is it true that all Petersham solicitor firms on the Nationwide conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Nationwide conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do list licenced conveyancers on their panel and in that case the organisation would be governed by the Council of Licensed Conveyancers.
I am purchasing a property in Petersham. A rare aspect is that the roof has a solar panel. Nottingham have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Nottingham your lawyer must follow the conveyancing requirements outlined in Section two of UK Finance Lenders’ Handbook for Nottingham. The Council of Mortgage Lenders’ Handbook sets out minimum specifications for solar panel roof-space leases, and property lawyers are required to report to Nottingham where a lease does not meet these requirements. The specifications relate to the installation of panels on properties countrywide and is not limited to Petersham.
My wife and I own a 4 bedroom Victorian house in Petersham. Conveyancing practitioner acted for me and Nottingham Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold with the exact same address. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Petersham and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with your conveyancing solicitor who conducted the purchase.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a simple, chain free conveyancing. Petersham is where the house is located. What do you suggest?
Flying freeholds in Petersham are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Petersham you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Petersham may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Is it possible to transfer to a new solicitor as I need to instruct a firm on the Nationwide Building Society conveyancing list. I had appointed a family conveyancing solicitor in Petersham round the corner but he is not approved by Nationwide Building Society
We will our best to assist in finding you a conveyancing solicitor in Petersham on the Nationwide Building Society panel. Please note that the property lawyers that we list do not pay us a referral fee if you instruct them and are fully regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Petersham. In making use of search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Petersham.
In searching the internet for the phrase conveyancing in Petersham it reveals many property lawyersin the vicinity. With so much choice what is the best way to find the right conveyancing solicitor for the sale of my house?
The best method of finding a suitable conveyancer is through a personal testimonial, so seek the counsel of friends and family who have bought a property in Petersham or a respected estate agent or mortgage broker. Fees for conveyancing in Petersham differ, so it's advisable to obtain at least four fee calculations from varying types of law firms. Dont forget to clarify that the charges are guaranteed not to to be inflated.
When it comes to my conveyancing in Petersham should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Petersham conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the lawyer's time in submitting the funds this way.